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Indian Indices - Live Markets

MARKET HIGHLIGHTS
Mar 11, 16:19 IST

Abhinav Tiwari Research Analyst at Bonanza

Today, the Indian stock markets ended lower, breaking their recent recovery as global tensions, high crude oil prices and continued foreign investor selling weighed on sentiment. Even though there was positive news around Reliance’s proposed refinery investment in the US, it was not enough to support the broader market.

The Sensex fell about 1,342 points, while the Nifty dropped nearly 395 points from the previous close.

Most sectors traded in the red. Auto and private bank stocks led the decline, while pharma and a few defensive sectors managed to remain positive. A major factor affecting sentiment was continued selling by FIIs. In the first week of March alone, FIIs sold more than Rs 21,000 crore worth of Indian equities, which has created persistent pressure on the market.

The ongoing conflict between the US and Iran kept global markets nervous. Reports of strikes near the Strait of Hormuz, an important global oil shipping route, increased fears of supply disruptions.

Global attention remained on Donald Trump’s announcement of a USD 300 billion refinery project in Texas, where Reliance is expected to be a key partner. While Reliance shares stayed firm after the news, the gains in a few large stocks could not offset the broad market weakness.

In the near term, Indian markets are likely to remain volatile and largely driven by global headlines, especially developments in the Middle East and movements in crude oil prices. However, India’s long term growth story supported by strong government spending on infrastructure and manufacturing remains intact.

Mar 11, 15:59 IST

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty faced strong resistance around the 24300–24310 zone, which coincided with the previous day’s high. The index gradually drifted lower through the session and eventually closed at 23867, down 1.63%. On the daily chart, Nifty formed a sizeable bearish candle, indicating strong selling pressure at higher levels. The index failed to sustain its recent pullback attempt and ended with yet another lower close, highlighting the continued dominance of bears over bulls.

Momentum indicators further support the negative bias. The RSI remains in a falling trajectory and is currently placed near 30, reflecting weak momentum. Meanwhile, a rising ADX signals strengthening bearish trend intensity, and the MACD remains well below the zero line, reinforcing the prevailing downside bias.

On the sectoral front, Nifty Pharma ended the day as the top sectoral gainer, continuing its strong run. Nifty Oil & Gas was the next best sectoral gainer, closing with a gain of 0.18%. On the other hand, Nifty Auto ended the day as a top sectoral loser, closing with a loss of over 3%, followed by Nifty Financial Services. With regards to stocks, JIOFIN & COALINDIA emerged as the top stock gainers amongst the Nifty pack while the BAJFINANCE & AXISBANK emerged as the top two losers.

Among broader markets, the Midcap Index engulfed the previous day’s candle, forming a clear bearish candle on the daily chart. The Smallcap Index, however, showed relatively better resilience. It formed a small-bodied red candle with an upper shadow, suggesting selling pressure emerging at higher levels. Overall, both benchmark and frontline indices failed to sustain higher levels and closed the session in the red, reflecting cautious sentiment and persistent selling pressure in the market.

The market breadth remained weak as the advance-decline ratio was titled in the favour of bears at day’s close. A total of 343 stocks out of the Nifty 500 universe ended in the red.

Nifty View

Going ahead, the immediate support for Nifty is placed in the 23750-23700 zone. Any sustainable move below this zone could result in Nifty extending its weakness towards 23500, followed by 23300 in the short term. On the upside, the zone of 23950–24000 zone is likely to act as a strong resistance.

Bank Nifty View

Bank Nifty also encountered stiff resistance near the 57000–57100 zone and gradually drifted lower through the day to close at 55736, down 2.13%. The index formed a large bearish candle, erasing the entire gain of the previous session and ending with a lower close, indicating renewed selling pressure.

For Bank Nifty, the immediate support is placed in the 55400–55300 zone. Any sustainable move below this zone could result in Bank Nifty extending its weakness towards 54900, followed by 54500 in the short term. On the upside, the zone of 56100–56200 zone is likely to act as a strong resistance.

  • Advances 9
  • Declines 41
  • Unchanged 0

Live Markets

Name LTP Chg %Chg Open High Low 52 Week High 52 Week Low Technical Rating
Key Indices

NIFTY 50

23,866.85 -394.75 -1.63 24,231.85 24,299.00 23,834.30 26,373.20 21,743.65 Technical Rating

NIFTY BANK

55,735.75 -1,215.05 -2.13 56,790.40 56,938.40 55,631.95 61,764.85 47,702.90 Technical Rating

NIFTY Midcap 100

56,461.10 -716.55 -1.25 57,335.20 57,656.90 56,363.40 61,548.85 46,966.60 Technical Rating

NIFTY NEXT 50

66,498.65 -729.30 -1.08 67,375.90 67,765.40 66,363.70 70,833.65 57,250.25 Technical Rating

NIFTY 100

24,574.55 -383.25 -1.54 24,941.60 25,020.50 24,538.80 26,975.15 22,177.35 Technical Rating

Nifty 200

13,415.70 -202.05 -1.48 13,617.45 13,666.40 13,395.95 14,700.95 11,941.45 Technical Rating

NIFTY 500

22,042.30 -300.65 -1.35 22,351.85 22,440.90 22,009.30 24,144.20 19,519.85 Technical Rating

NIFTY Smallcap 100

16,414.85 -58.95 -0.36 16,521.85 16,652.85 16,384.25 19,224.95 14,084.30 Technical Rating

NIFTY MIDCAP 50

15,991.65 -270.60 -1.66 16,297.05 16,359.05 15,961.15 17,572.45 13,269.65 Technical Rating

NIFTY SMLCAP 50

8,054.20 -44.25 -0.55 8,119.15 8,172.70 8,040.45 9,282.70 6,776.05 Technical Rating

India VIX

21.06 2.15 11.37 18.90 21.38 17.24 24.49 8.72 Technical Rating

NIFTY 750 TOTAL MKT

12,357.80 -163.00 -1.30 12,527.95 12,580.35 12,339.10 12,580.35 0.00 Technical Rating
Sectoral Indices

NIFTY Auto

25,926.00 -844.55 -3.15 26,761.75 26,851.65 25,875.20 29,179.10 19,316.65 Technical Rating

NIFTY IT

29,651.70 -372.30 -1.24 30,043.85 30,231.40 29,598.30 40,301.40 29,533.90 Technical Rating

NIFTY PSU Bank

8,848.40 -165.40 -1.83 9,038.85 9,060.70 8,826.65 9,918.65 5,729.15 Technical Rating

NIFTY Fin Service

25,920.80 -614.40 -2.32 26,447.00 26,538.50 25,869.35 28,562.50 22,934.55 Technical Rating

NIFTY Pharma

23,348.05 94.40 0.41 23,311.75 23,540.90 23,283.10 23,540.90 19,121.10 Technical Rating

NIFTY FMCG

49,059.70 -543.85 -1.10 49,649.55 49,685.50 48,964.95 58,485.05 48,740.95 Technical Rating

NIFTY Metal

11,822.10 -46.40 -0.39 11,929.20 12,103.95 11,793.65 12,509.75 7,690.20 Technical Rating

NIFTY Realty

731.40 -12.75 -1.71 746.90 754.30 729.60 1,049.70 714.95 Technical Rating

NIFTY Media

1,344.75 -7.00 -0.52 1,353.85 1,377.75 1,338.60 1,786.15 1,302.55 Technical Rating

NIFTY Energy

36,138.50 99.55 0.28 36,167.20 36,536.60 36,070.15 37,306.50 29,802.20 Technical Rating

Nifty Pvt Bank

26,480.15 -654.15 -2.41 26,998.50 27,082.95 26,410.40 29,748.45 23,783.15 Technical Rating

NIFTY Infra

9,039.25 -100.65 -1.10 9,155.15 9,197.75 9,022.15 9,792.60 7,775.80 Technical Rating

NIFTY Commodities

9,563.55 -49.85 -0.52 9,643.05 9,714.90 9,542.05 10,078.60 7,601.40 Technical Rating

NIFTY Consumption

10,928.60 -206.10 -1.85 11,122.20 11,148.75 10,915.45 12,716.20 10,159.85 Technical Rating

NIFTY PSE

10,137.00 -31.35 -0.31 10,179.40 10,271.00 10,118.95 10,544.05 8,415.00 Technical Rating

NIFTY Services

30,464.75 -554.60 -1.79 30,911.90 31,003.65 30,419.20 34,549.75 29,070.85 Technical Rating

Nifty FinSrv25/50

28,294.50 -566.05 -1.96 28,784.05 28,874.15 28,242.05 28,874.15 0.00 Technical Rating

Nifty Cons Durbl

36,212.00 -231.25 -0.63 36,475.15 36,951.40 36,139.30 40,472.45 32,205.30 Technical Rating

Nifty Healthcare

14,960.20 21.30 0.14 14,958.90 15,063.15 14,930.25 15,148.75 12,565.40 Technical Rating

Nifty Oil & Gas

11,483.10 20.60 0.18 11,518.30 11,620.35 11,450.35 12,445.70 9,445.95 Technical Rating

NIFTY India Mfg

15,182.75 -200.30 -1.30 15,423.10 15,502.95 15,160.10 15,502.95 0.00 Technical Rating

Nifty India Defence

8,257.50 -146.40 -1.74 8,429.75 8,504.20 8,239.55 8,504.20 0.00 Technical Rating
Other Indices

NIFTY MIDCAP 150

20,839.35 -240.40 -1.14 21,142.60 21,247.40 20,797.00 22,650.05 17,269.50 Technical Rating

NIFTY MIDSML 400

18,795.85 -168.05 -0.89 19,019.30 19,133.70 18,763.35 20,668.15 15,832.85 Technical Rating

NIFTY SMLCAP 250

15,326.60 -59.30 -0.39 15,429.00 15,556.95 15,300.95 18,077.35 13,314.70 Technical Rating

NIFTY MNC

30,210.90 -395.30 -1.29 30,659.15 30,778.85 30,139.15 32,131.15 23,981.05 Technical Rating

NIFTY AlphaLowVol 30

25,720.45 -469.15 -1.79 26,183.05 26,231.35 25,674.70 26,231.35 0.00 Technical Rating

Nifty200 Momentum 30

29,511.35 -678.05 -2.25 30,226.35 30,291.05 29,470.50 30,291.05 0.00 Technical Rating

Nifty LargeMid250

15,643.55 -211.90 -1.34 15,874.15 15,938.00 15,616.95 17,077.75 13,526.30 Technical Rating

Nifty500 Mul50:25:25

15,230.65 -177.45 -1.15 15,425.45 15,500.05 15,208.10 16,681.75 13,318.60 Technical Rating

NIFTY CPSE

7,090.10 1.60 0.02 7,093.50 7,164.35 7,079.80 7,220.70 5,521.95 Technical Rating

NIFTY MID SELECT

12,961.90 -247.60 -1.87 13,237.15 13,296.05 12,936.65 14,118.40 10,382.55 Technical Rating

NIFTY IND DIGITAL

7,502.70 -110.85 -1.46 7,614.75 7,661.25 7,484.70 9,723.25 7,334.40 Technical Rating

NIFTY M150 QLTY50

22,203.25 -374.60 -1.66 22,663.85 22,735.60 22,161.40 22,735.60 0.00 Technical Rating

Nifty Microcap 250

20,372.70 -22.65 -0.11 20,502.65 20,742.95 20,324.20 20,742.95 0.00 Technical Rating

Nifty Capital Market

4,549.70 -69.70 -1.51 4,633.85 4,656.80 4,539.10 4,656.80 0.00 Technical Rating
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